150 days after Montreal entrepreneur Ashkan Karbasfrooshan spearheaded efforts to bring Major League Baseball back to the city, he's providing an update.
MONTREAL, April 28, 2026 /PRNewswire-PRWeb/ -- Anchored within a broader vision for a next-generation civic and economic platform, Karbasfrooshan has been hard at work, signing on key strategic partners in the commercial and corporate development sector and fielding indications of interest from investors ready to put forward capital.
Origins: From Loss to Action
Karbasfrooshan's pursuit traces back to 2004, when the Montreal Expos left the city.
"That moment shaped my path," he said. "It pushed me toward entrepreneurship with the belief that if you want to influence outcomes, you have to be willing to help build them together."
That journey led to the founding of WatchMojo, one of the world's most-viewed digital media companies, built in parallel with the rise of YouTube and the transformation of global media.
A Changing Sports Landscape
The Expos remain a popular team and brand. But it was seeing the NHL's Colorado Avalanche take on his hometown Montreal Canadiens in the old Quebec Nordiques jerseys recently that got his wheels turning. The Nordiques moved from Quebec to Denver, then went on to win multiple Stanley Cups.
"My first reaction was why do we take things for granted, and thinking 'it's so hard to reclaim was is lost.In 2026, sports ownership isn't about one wealthy individual writing a large check, it's a formula consisting of high net worth individuals, family offices and private equity funds, but also one where the sports team is part of a larger ecosystem, which means a packaging, sequencing and match-making process."
Market Validation: Fans, Media, Capital
He hit the ground running. Over the past five months, the Peanut Project has focused on validating interest across key stakeholders:
- Fans: Surveys indicate strong and sustained demand for MLB's return, with over 5000 respondents.
- Media: Early engagement signals distribution opportunities for future broadcasts
- Corporate Sector: key strategic partners have signed-on commercial and corporate development contracts
- Capital: Over $5B in LOIs from private equity and indications of interest from anchor investors.
"As I said early on, capital is not the constraint, given that some of these anchor investors and PE funds are mutually exclusive, I am now trying to arrange the best ownership group possible ahead of MLB's 2028 expansion window, while continuing to meet interested investors."
Karbasfrooshan cast a wider net of potential investors than most would. Rather than limiting himself to wealthy local individuals and private investment firms, he also pursued wealthy individuals and firms from around the world, sports team owners looking to add more assets to their portfolio, major fund managers seeking rare, prestigious investments, and professional athletes who have built up significant wealth and increasingly think of themselves as investors, not just players.
"These are all people who may not have a strong preference for any particular city, but they all have an affinity for Montreal — and having spent my whole life here makes this a compelling opportunity."
Introducing 4C: A Year-Round Hub
At the heart of the project is 4C — the Creative, Cultural, Commercial Campus — a mixed-use destination designed to be active 365 days a year. Think of it as Montreal's version of developments like The Battery Atlanta, but built for this city's unique character.
4C would bring together five sectors under one roof: technology, education, entertainment, media, and sports.
One centerpiece is the Academy for the Study of Entrepreneurship, linking business development, education, and innovation. "I attended Concordia's John Molson School of Business and taught Entrepreneurship at McGill Desautels. I like to partner and don't need to reinvent the wheel," says Karbasfrooshan, who has authored three books on leadership, management, and history.
The project has been built in three deliberate steps: first, shaping the concept and positioning; second, developing the 4C platform; and third, bringing together the right partners, investors, and capital.
One important structural note: private equity can only fund up to 30% of a sports franchise, but can fund 100% of a stadium and surrounding infrastructure. The Peanut Project is entirely privately funded — no public money or taxpayer dollars are involved.
Social Responsibility
4C is built with a social mission alongside its commercial one. The platform will directly address urban challenges — youth engagement, job displacement, and homelessness — through community sports leagues, workforce reskilling programs, and partnerships supporting housing and social services. The goal is simple: use 4C's scale to deliver real, measurable benefits to Montrealers at every level of society.
Expanding Participation: Community Capital
MLB wants to avoid the fractured ownership structure that plagued the original Expos. But once core ownership is settled, Karbasfrooshan wants the community to have a stake. Subject to league approval, he envisions structured opportunities — such as seat licenses or direct ownership participation — for accredited investors to buy in. This is not crowdfunding; it's access to an asset class that has historically delivered around 12% annualized returns over 60 years. The goal: open the door to an investment typically reserved for the ultra-wealthy, while deepening community buy-in for the long haul.
Timing
MLB expansion is widely expected once media rights deals, labor matters, and existing stadium situations are resolved. The Peanut Project is positioning Montreal to be ready when a formal process opens, targeting the 2026–2027 window.
About
The Peanut Project is led by Ashkan Karbasfrooshan—entrepreneur, operator, and founder of WatchMojo—bringing together experience across media, capital markets, and digital platforms.
"This is not just about baseball," he said. "It's about building something that reflects where cities, sports, and economies are going—not where they've been."
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Media Contact
Pamela Toman, WatchMojo, 1 5148150400, [email protected]
SOURCE WatchMojo
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